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All-Star Analyst Timothy Winter Issues Recommendations for 4

                            PGN, SCG, FPL and EAS 

CHICAGO, April 18 /PRNewswire/ -- As the economy recovers, businesses across the country will require more energy to increase production. Timothy Winter, 5-Star analyst from A.G. Edwards, gives investors his insight into the sector and which companies are the best bets for 2002.

    (Photo: ) 
      Here are the details on Analyst Timothy Winter's Stock Picks for today: 

Progress Energy Inc. (NYSE: PGN) is a holding company engaged in the generation, transmission, distribution and sale of electricity in portions of the Carolinas and Florida, as well as the transport, distribution and sale of natural gas in portions of North Carolina.

The Company has acquired Florida Progress Corporation (FPC), a diversified electric utility holding company. Florida Power, FPC's largest subsidiary, is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity. The company expects to grow its business 5% plus per year after these merger synergies are achieved. Winter feels this company should add to its earning growth and expects EPS in 2002 to be $4.00 and increase to $4.25 in 2003. His 12-month price target is $54.

Scana Corp. (NYSE: SCG) is registered as a public utility holding company. SCG neither owns nor operates any physical properties, and has 11 direct, wholly owned subsidiaries that are engaged in functionally distinct operations.

With a secure dividend and growing business, Winter expects EPS to be $2.45 in 2002, up from $2.15 in 2001 and growing to $2.60 in 2003. Although SCG is trading at its 52-week high, Timothy expects the 12-month price target to be 10% greater at $34.

FPL Group Inc. (NYSE: FPL): Florida Power & Light Co. (FP&L Co.) a wholly owned subsidiary of FPL Group (NYSE: FPL) is among the largest and fastest growing electric utilities companies in the United States.

Winter likes the strength and stability of Florida Power & Light Co. and the generally supportive regulatory environment. Operational excellence is evidenced by 10 consecutive years of declining operation and maintenance (O&M) expenses, which are down 40% since 1990. The estimated EPS for 2002 is $4.85 and $5.25 for 2003 as FPL adds more customers through its expansion program.

Energy East (NYSE: EAS): The company's principal energy delivery business is transmitting and distributing electricity in New York and Maine and transporting, storing and distributing natural gas in New York, Connecticut, Maine, Massachusetts and New Hampshire.

Since EAS doesn't generate electricity, but is a regulated distributor, Winter believes they will benefit by a recovering economy and through recent consolidations throughout the Northeast. He feels this is a low risk stock that pays a handsome $.96 dividend and expects that to grow between 4%-5% per year. EPS estimates in 2002 are $1.60 and are expected to increase to $1.90 in 2003. This earnings and dividend growth make EAS a conservative choice with a 12-month price target around $23.

To read the entire article with Timothy's sector commentary, go to .

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CONTACT: Terry Batey of, 312-630-9880, ext. 307,

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SOURCE Zacks Investment Research

-0- 04/18/2002

/CONTACT: Terry Batey of, +1-312-630-9880, ext. 307, /

    /Photo:  NewsCom: 
              AP Archive: 
              PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840/ 
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CO: Zacks Investment Research;; Progress Energy Inc.; Scana Corp.;

FPL Group Inc.; FPL Group; Energy East ST: Illinois IN: FIN PUB MAG SU:

-0- Apr/18/2002 10:02 GMT

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